General American Investors Co. Inc. Sells 100,000 Shares of Alamos Gold Inc. (NYSE:AGI)

General American Investors Co. Inc. trimmed its position in Alamos Gold Inc. (NYSE:AGI) (TSE:AGI) by 10.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 832,438 shares of the basic materials company’s stock after selling 100,000 shares during the quarter. General American Investors Co. Inc. owned 0.20% of Alamos Gold worth $13,053,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co grew its position in Alamos Gold by 131.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 97,403 shares of the basic materials company’s stock valued at $1,434,000 after acquiring an additional 55,352 shares during the last quarter. National Bank of Canada FI increased its position in Alamos Gold by 3.4% during the 1st quarter. National Bank of Canada FI now owns 1,394,930 shares of the basic materials company’s stock worth $21,824,000 after purchasing an additional 45,412 shares in the last quarter. Vanguard Group Inc. lifted its stake in Alamos Gold by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 14,419,042 shares of the basic materials company’s stock valued at $194,224,000 after purchasing an additional 216,280 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Alamos Gold by 71.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,581 shares of the basic materials company’s stock valued at $97,183,000 after buying an additional 2,756,759 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Alamos Gold by 66.2% during the first quarter. Russell Investments Group Ltd. now owns 191,746 shares of the basic materials company’s stock worth $2,829,000 after buying an additional 76,379 shares during the last quarter. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AGI has been the subject of a number of research reports. Jefferies Financial Group increased their price target on Alamos Gold from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Scotiabank lifted their price target on Alamos Gold from $20.00 to $22.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, StockNews.com raised Alamos Gold from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.06.

Alamos Gold Stock Performance

NYSE:AGI opened at $18.10 on Friday. Alamos Gold Inc. has a fifty-two week low of $10.78 and a fifty-two week high of $20.24. The company has a 50 day simple moving average of $17.75 and a two-hundred day simple moving average of $15.87. The company has a market capitalization of $7.23 billion, a PE ratio of 34.81, a P/E/G ratio of 0.83 and a beta of 1.16.

Alamos Gold (NYSE:AGI) (TSE:AGI) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $332.60 million during the quarter, compared to the consensus estimate of $282.78 million. Alamos Gold had a net margin of 17.73% and a return on equity of 8.52%. Alamos Gold’s quarterly revenue was up 27.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 earnings per share. Research analysts predict that Alamos Gold Inc. will post 0.75 EPS for the current year.

Alamos Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a dividend of $0.025 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.10 annualized dividend and a yield of 0.55%. Alamos Gold’s dividend payout ratio is currently 19.23%.

About Alamos Gold

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.